A RECAP OF Q1 2023 AMIDST RECESSION CONCERNS ACCORDING TO ASI CENTRAL
DISTRIBUTOR CONCERN ABOUT A RECESSION AFFECTING 2023 SALES
PROMO INDUSTRY SALES REVENUE BY QUARTER (YEAR-OVER-YEAR INCREASE/DECREASE)
According to Nate Kucsma, ASI’s senior executive director of research, industry sales may have been flat or even declined last quarter if not for inflation.
“Q1 was still strong, but rising prices over Q1 2022 certainly pushed results in a more positive direction than they otherwise would have been,” explains Kucsma, who spearheads the quarterly sales survey. “Overall, sales growth from Q4 2022 has definitely slowed in the industry as end-buyers appear to be more cautious with their spending as concerns about a possible recession continue to grow.”
Firms were split when asked to describe Q1 in a word, using a roughly equal mix of negative terms (“cautious,” “uncertain,” “challenging,” “slow” and “difficult”) and optimistic ones (“healthy” “encouraging,” “positive,” “busy” and “good”).
What One Word Describes Q1 2023?
As these times are uncertain for all of us, we see new potential ideas and opportunities for growth start to arise and that can be equally as exciting and hopeful as it can be threatening.
Thank you to ASI Central for the pertinent and helpful research and information provided by your article, Distributor Sales Cool in Q1 Amid Recession Concerns. Give this a read to learn more information about the current climate and state of our industry and common feelings amongst Distributors at this time.
Overall, in this most recent quarter, we are happy to see an increase in overall sales- albeit a concerningly low increase in comparison to past quarters. Rising concerns about the Distributor Sales Market during these trying economic times are appropriate but seemingly subsiding according to us and many fellow companies. We, as an industry have navigated through a very intimidating and scary period and are looking forward to what’s to come.